With Christmas on the horizon, you’d expect all eyes to be focused on festive preparations, but that didn’t stop us from pulling out all the stops for another exciting property auction this November.
And what an auction it was! With sales amounting to more than £2.5 Million, we were certainly able to give our sellers an early gift ahead of the festive period.
There was huge interest from over 160 viewers who logged-in on auction day, during which we exchanged contracts on more than 20 properties – with even more lots selling post-auction.
We’re thrilled with how November’s property auction went and are already looking forward to seeing what December brings!
If you missed our last property auction and would like to see the results for yourself, you can have a look at all of the lots here.
There are still some properties available post-auction, so don’t hesitate to take a look for yourself before they go.
To further whet your appetite, we’ve also picked out some of the best auction success stories from November, so you can check them out for yourself and see what all the excitement is about!
This attractive three-bedroom property was just bursting with potential. The semi-detached home is set in a generous corner plot and represented an excellent investment opportunity for the right buyer.
One of our long-standing clients gave our auction team the opportunity to sell the property after it had struggled on the open market. Despite being an excellent property for either rental or a comfortable family home, Waverley Road was in need of renovation and a little TLC. This had sadly caused some buyers to end up walking away.
The vendors had decided that enough was enough and turned to us to turn these disinterested buyer’s loss into one savvy investor’s gain!
The challenge set to us was to guarantee a sale within a 28-day completion window, so we wasted no time in deciding on a rough reserve, while working to generate as much interest as possible. We announced the reserve price a few days before the auction and oh boy – the interest was enormous!
Our client followed the auction process to a T, which resulted in a flurry of offers from 31 bidders on the day of the auction. As a result, we achieved £30,000 over the reserve price of the property.
This was excellent news for all concerned, because not only had we achieved the goal of securing a sale quickly, but we also managed to match the price the vendor had originally accepted on the open market.
And one lucky buyer has scooped up what will be a beautiful home.
Another semi-detached property that stirred up a lot of interest was number 4 Tealby Road in Gorton. This three-bedroom property has good-sized rooms, a ground floor WC and upper floor wc/bathroom and large front and back gardens.
Set in the centre of Gorton, this property also lies just three miles from Manchester City Centre – perfect for both living and working!
After probate being granted and our clients removing what they wished to keep, we were quick to market the house with vacant possession and sold as seen. This meant that the seller didn’t have to be responsible for removing everything from the property, which is always a convenient option when selling at auction.
Originally, we anticipated a reserve between £140,000 and £150,000 and set the starting bid at £135,000. This quickly generated a lot of interest, with 17 potential buyers choosing to view the property for themselves.
After a successful day at auction, the final sale price for Tealby Road was a very impressive £182,000. Needless to say, our client was thrilled and has this to say:
“I’m in absolute shock with how much it sold for.
My heart was skipping a beat whilst I sat in work.
That’s brilliant- thank you for all your help! You’re the best.”
Selling a probate property can be an emotionally challenging experience, so it’s genuinely rewarding to know that we could make all the effort worthwhile for the client.
Not every seller is as keen to sell their property at auction, however, once they take the plunge they are often surprised at how effective auctioning their home can be.
Number 21 Langfield Crescent is a great example of a property that had struggled to sell on the open market, but performed really well for the client at auction.
Despite being a well-appointed refurbished home in a prime location near Manchester and local travel links, the property had remained on the market for months without success. The vendors were initially hesitant about auctioning the house, but finally decided it was time to make a positive move.
Their decision paid off. By trusting in our expert guidance and professional auction process, the seller was able to easily beat their reserve price.
Langfield Crescent eventually sold for a fantastic £18,000 over its reserve, showcasing the effectiveness of our approach, as well as the effort we make to ensure that our client’s trust in us is well-earned.
Our final success story (for now!) comes from number 13 Fleeson Street. This is a well-maintained property, located in the popular area of Rusholme, close to the city centre, universities and hospitals.
However, despite its impressive credentials as a rental or investment opportunity, the property had sadly languished on the market with another agency.
Having been on the market for two months, the house had only had one viewing, at which point the vendor decided to turn to the team at Edward Mellor to change the property from FOR SALE to SOLD.
Within just a short time, we were able to arrange 16 viewings with interested buyers, before selling the property on auction day for £7000 more than its reserve price.
This was a great result for the vendor and an example of how Edward Mellor can sell your home where others have failed.
That’s everything for this month’s round-up, but check in again soon to see how our exciting December auction goes!
In the meantime, whether you are looking to sell your home at auction, or grab a bargain that you won’t find anywhere else, the Edward Mellor team is here to help.
To find out more about selling your property at auction or would like help registering for our next auction taking place on 06th-07th December, please contact our team on 0161 464 7903 or email [email protected].
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